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Posts tagged "Bankruptcy"

The 3 most common reasons people go through bankruptcy.

Bankruptcy no longer has the social stigma it once did. However, those who are considering bankruptcy may take comfort in knowing what has caused others to seek financial relief through this legal process. Although reasons for financial struggles vary from family to family, three of the most common causes of bankruptcy that are often cited by those petitioning for relief from the court include:

What is an "automatic stay" in bankruptcy?

Bankruptcy is a legal process that can help those who are struggling financially find a fresh financial start. Those who have considered this process have likely stumbled on a number of legal terms, including "automatic stay." This term refers to a court order that is granted after an applicant is approved for bankruptcy.

Bankruptcy and your credit score

Bankruptcy is touted as a fresh financial start, but those who have done some research likely know it will have a negative impact on one's credit score. Although this is true, there are many reasons bankruptcy may still be the best option. Three common examples to take into consideration before ruling out bankruptcy include:

Three lessons for individuals from the Toys "R" Us bankruptcy

Toys "R" Us declared bankruptcy in September with a plan. The store was not going to give up. Instead, the story put together this plan to structure itself to reenter the marketplace successfully. Toys "R" Us is not giving up - it just went back to the drawing board to adjust its business model.

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